I've been a business reporter for a while. I've covered Wall Street, venture capital and now private equity. I'm always looking for a scoop or something to talk about. I'm the eternal optimist and am still waiting for the Chicago Cubs to win the World Series. Yes, I believe.
Palamon Capital Partners has agreed to sell Towry to Tilney Bestinvest for £600 million ($853.4 million). Towry, of the U.K. is a wealth manager with more than 9 billion pounds of client assets. Palamon expects to make 13x investment capital with the sale of Towry, the statement said.
4 min read · 04 April 2016
Schoold said April 1 it closed a seed round of approximately $4.5 million. Investors included FastForward, Lorne Abony, a serial entrepreneur and investor, and several other private investors. San Francisco-based Schoold is a college planning startup.
3 min read · 04 April 2016
Marlin Equity Partners has acquired a portfolio of software assets from the Business Performance Services division of McKesson Corp. The assets include McKesson Practice Choice™, Medisoft®, Medisoft® Clinical, Lytec®, Lytec® MD and Practice Partner® (“McKesson Assets”), and consist of practice management and electronic health record software solutions sold to the ambulatory care market. Financial terms weren’t announced. The McKesson Assets have been merged with e-MDs Inc, a Marlin portfolio company.
3 min read · 04 April 2016
Welsh, Carson, Anderson & Stowe said April 1 it has completed its buy of the QuickBase business from Intuit Inc. Financial terms weren’t announced. The business will now be called QuickBase Inc and will be led by CEO Allison Mnookin. Cambridge, Massachusetts-based QuickBase provides a low-code application development platform.
3 min read · 01 April 2016
OneMain Holdings Inc said April 1 that it has sold its 47 percent stake in SpringCastle to New Residential Investment Corp. and The Blackstone Group. The $112 million cash sale includes a 10 percent holdback to be held in escrow for a period of up to five years with the release tied to ultimate portfolio performance. OneMaine formed SpringCastle, a joint venture, with New Residential and Blackstone to buy the consumer loan portfolio from HSBC.
8 min read · 01 April 2016
Eric Thorkilsen and TZP Group have acquired This Old House Ventures LLC from Time Inc. Financial terms weren’t announced. This Old House offers homeowners information and advice through two TV series, “This Old House” and “Ask This Old House.” Thorkilsen was named CEO of This Old House Ventures. Portico Capital Securities served as financial advisor to the acquirers.
4 min read · 01 April 2016
TSYS said April 1 it completed its buy of TransFirst. The $2.35 billion sale was announced in January. Vista Equity Partners was the seller. TransFirst is one of the largest providers of secure payment processing in the United States. TransFirst’s president and CEO John Shlonsky was elected as Senior Executive Vice President of TSYS and will lead the combined businesses.
4 min read · 01 April 2016
To end your week, we have news that the Slack has raised $200 million at a $3.8 billion post-money valuation, Saudi Arabia is creating the world’s largest sovereign wealth fund for the kingdom’s most prized assets, and you know the Tesla Model 3 doesn't exit yet, right?
1 min read · 01 April 2016
Reserve, the restaurant reservations app, has acquired Dash. Financial terms weren’t announced. New York-based Dash is a payments app. Diageo, the huge beverage company, has also made a strategic investment in Reserve, the company said on its blog.
1 min read · 01 April 2016
2 min read · 01 April 2016
